Revenue dept. issues proposed rule for tax break

Published September 27, 2012 3:11am ET



BATON ROUGE, La. (AP) — The Department of Revenue is proposing new regulations governing Louisiana’s alternative fuel tax credit to limit estimated program costs to $10 million a year, far higher than initial projections of the tax break’s price tag.

But the move to eliminate “flex-fuel vehicles” — which had been swept into eligibility with a rule later rescinded by Gov. Bobby Jindal — will keep the tax break from costing the state up to $250 million a year, according to a financial estimate included with the proposed regulations.

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